Question - Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2011.
Research & Development expenses $86,000
Loss from discounted operations $34,000
Provision from income taxes $68,000
Net Sales $1,022,000
Interest expense $72,000
Net cash provoded by operations $76,000
Gross profit $292,000
Selling, general & administrative expenses $62,000
Accounts receivable $134,000
Extraordinary gain from lawsuit settlement, net of tax expense of $26,000 - $90,000